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January 12, 2016 – DON’T WAIT TOO LONG TO GET WHAT’S OWED YOU

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January 12, 2016 – DON’T WAIT TOO LONG TO GET WHAT’S OWED YOU

Our law firm receives many phone calls from people who are owed money or believe that they have a claim against another person or company. Approximately 1 out of every 6 of those phone calls are from people who have, unfortunately waited too long to file a lawsuit to seek damages. We have an ethical obligation to “shoot straight” with those people, and we do so, by informing them they’ve waited too long to take action.

What is the Statute of Limitations?

Texas, like all states has a statute of limitations which defines the time period in which a lawsuit must be filed, as measured from the time of the incident leading to the dispute. After that time period, the injured party is no longer permitted to file a claim in a Texas state court to litigate the dispute. The reasoning behind this statute is to help make sure that meritorious lawsuits are filed within a reasonable time or not at all.

How does this statute work?

There are factors to consider. The period for someone to file a lawsuit varies based on the type of claim he or she may have against another party. Generally, the period starts to run when a person suffers a loss or is injured. (See the chart below).

Can this period be extended?

Perhaps. It is understandable that a person is initially unable to discover that they have been damaged. The law appreciates that reality and in certain circumstances, the court decides that fairness requires the statute of limitations to be extended for a period of time. Determining the length of that time is quite involved, and the injured person should immediately contact an attorney to discuss the time frame.

What are the time periods for my case?

Please refer to the below chart.

Texas Statute of Limitations*

Defamation

1 year

Fraud

4 years

Injury to personal property

2 years

Intentional torts

1 year

Libel

1 year

Medical malpractice

2 years from date of injury

Minors

begins on date of 18th birthday

Open accounts for debt collections

4 years

Oral agreements

4 years

Personal injury

2 years from date of injury

Product liability

2 years

Promissory notes

4 years

Slander

1 year

Oil & gas – securities “scams”

3 years from the sale

Written contracts

4 years

Wrongful death

2 years from date of death

*The statute of limitations laws presented are strictly provided to you “as-is.” While we believe that the legal information is accurate as of the date created, we cannot and do not provide any guarantee, analysis or conclusions. The law may have changed since this article was published. The only way to ensure that the statute of limitations law you are reading is up to date and applies to your specific issue, is to consult with an attorney licensed to practice law in the state of Texas.

What I Do

Provide tough and tested commercial litigation and business law experience to our clients. We approach each client`s legal issue with a focus on cost-effective resolution, and if required an aggressive approach in the court room. We earn our clients loyalty by placing the highest priority on their interests and acting in concert with them to achieve their goals.